Network Rail to receive less funding from regulator

Source: Supply Chain Digital

Date :30/10/2008 10:57:34

The Office of Rail Regulation ruled that future funding would be less than Network Rail demanded.

In findings published today, October 30, the ORR ruled that Network Rail would have a total budget of £28.5 billion for the five-year period beginning April 2009.

Of the income, ORR ruled that Network Rail will need income of £26.7 billion, eight percent less than the £29.1 billion the infrastructure company said it needs.

At the same time, Network Rail will have to improve in terms of reliability and levels of disruption, with a 20 percent reduction in late and cancelled trains and improvements in safety.

Train punctuality currently runs at around 90 percent of trains operating on time. The ORR said this figure should be increased to at least 93 percent for local services in South East England and to 92 percent for all other services.